Quarterly report pursuant to Section 13 or 15(d)

Earnings Per Share

v3.7.0.1
Earnings Per Share
3 Months Ended
Apr. 01, 2017
Earnings Per Share [Abstract]  
Earnings Per Share
Earnings Per Share
Basic and diluted weighted-average shares outstanding are as follows: 
 
Three Months Ended
(In thousands)
April 1,
2017
 
April 2,
2016
Weighted Average Shares - Basic
29,102

 
29,395

Net Effect of Dilutive Stock Options
1,080

 
964

Weighted Average Shares - Diluted
30,182

 
30,359


The 2016 information above has been adjusted to reflect the impact of the three-for-twenty Class B stock distribution to shareholders of record on October 11, 2016.
Stock options with exercise prices greater than the average market price of the underlying common shares are excluded from the computation of diluted earnings per share because they are out-of-the-money and the effect of their inclusion would be anti-dilutive. The number of common shares covered by out-of-the-money stock options at April 1, 2017 was approximately 474,000 shares.